2024-01-30 04:49:36 ET
Summary
- Blackstone reported earnings that exceeded expectations in terms of distributable earnings for its fourth quarter.
- The company comfortably covered its dividend with distributable earnings throughout 2023.
- BX stock appears to be quite expensive, selling for a 30x leading distributable earnings multiple, leading to a recommendation to hold.
Blackstone Inc. ( BX ) is a profitable and internationally-diversified asset management company with multiple fee streams. The asset manager just reported earnings for its fourth quarter that exceeded expectations in terms of distributable earnings....
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Blackstone: Diversified Business, Covered 3.5% Dividend, But Expensive (Rating Downgrade)